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10 Global Consumer Trends for the Next Five Years

November 2012

Today’s consumers are value-conscious, interactive, multicultural, health-driven, socially responsible and always connected. In developed markets, conspicuous consumption is out, with personal appearance and wellbeing taking priority over the accumulation of material possessions. Following on from “10 Global Macro Trends for the Next Five Years”, this new global report discusses how the latest consumer trends will shape demand and impact marketing strategies going forward.

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What this report includes

  • Top-level strategic analysis of how major consumer trends will influence global markets
  • Consumer insight
  • Impact across all relevant consumer markets
  • Unique graphics and case studies
  • Key market snapshots
  • Accompanying presentation to synthesise main findings
     

Why buy this report

  • Identify factors driving change now and in the future
  • Understand motivation
  • Forward-looking outlook
  • Briefings and presentation should provoke lively discussion at senior level
  • Take a step back from micro trends
  • Get up to date estimates and comment

Delivery format

PDF/Word
Downloadable from MyPages

EXECUTIVE SUMMARY

1. The Search for Value
2. A More Cautious Approach to Credit
3. People Power
4. Multicultural Consumerism
5. The Fight against Obesity
6. New Attitudes towards Growing Old
7. Experience-based Consumption
8. The Rise in Social Responsibility
9. The Chemical Backlash
10. Mobile Cocooning
Summary 1 The 10 Global Consumer Trends and their Impact 2012

INTRODUCTION

TREND 1: THE SEARCH FOR VALUE

Trend Outline
Consumers want more bang for their buck Euromonitor survey confirms consumers’ love of bargains Chart 1 Consumer Shopping Habits 2011
Implications
Less loyalty, more research Growth of online shopping Group buying takes off Diversifying into health Price comparison websites Discounters benefit from no frills approach Fixed price stores boom Chart 2 Global Retail Growth vs Growth in Discounters and Internet Retailing 2008-2012 Fast fashion A loss of loyalty
Outlook
Chart 3 Forecast Global Consumer Expenditure and Prices 2011-2016

TREND 2: A CAUTIOUS RETURN TO BORROWING

Trend Outline
From boom to bust Higher saving rates Table 1 Saving Rates 2006/2011/2016 Slowdown in lending Surge in education loans Signs of change Chart 4 Consumer Credit: Global Outstanding Balance per Household 2007/2012
Implications
Impact on financial cards Table 2 Number of Credit, Debit and Pre-paid Cards in Circulation 2007/2012/2017 Chinese take to credit cards Chart 5 Leading Growth Markets for Personal Credit Cards 2007/2012 New types of lending emerge Peer-to-peer lending
Outlook
Slow recovery of credit Education lending will remain buoyant Credit unions may put pressure on provide the ideal solution Chart 6 Global Consumer Credit Balance: Forecast Growth by Category 2012/2017

TREND 3: PEOPLE POWER

Trend Outline
Word-of-mouse Chart 7 “How Often Do You Read Online Reviews?”, by Country 2011 The impact of Twitter Crowdsourcing
Implications
Tourism and foodservice rely on positive feedback The problem of false reviews Making the most of social media Celebrity endorsement is big business The merits of crowdsourcing Crowdsourced apps
Outlook
Chart 8 Number of Internet Users 2011-2016

TREND 4: MULTICULTURAL CONSUMERISM

Trend Outline
Greater ethnic mix Minorities gain economic clout Religious diversity Table 3 Selected Religions by Country 2010
Implications
Eating habits become more adventurous Celebrity chefs popularise exotic ingredients Ethnic trendsetters Chart 9 Sales of Spicy Chilli/Pepper Sauces in the US 2007/2012/2017 Religious preferences create new demand Ethnic beauty A growing segment Summary 2 Selected Ethnic Beauty and Personal Care Launches 2010-2012 Clothing
Outlook
More room for growth Targeted marketing

TREND 5: THE FIGHT AGAINST OBESITY

Trend Outline
The problem The cause The solutions Table 4 Obesity Rates by Country 2006/2011/2016
Implications
Consumers look for a quick fix Chart 10 Respondents “On a Diet Trying to Lose Weight” by Country 2011 Chart 11 Respondents “On a Diet Trying to Lose Weight” by Age 2011 Chart 12 Importance of “Limited Fat Consumption” by Country 2011 Impact on retail markets Table 5 Global Sales of Weight Management Products 2006/2011/2016 Table 6 Global Sales of Selected Better-for-you Products 2007/2012/2017 Foodservice focuses on calories Adapting clothing to new body shapes
Outlook
Obesity rates may finally stabilise Is stevia the answer? Opportunities in plus-size clothing Chart 13 Forecast Growth in Obesity Rates by Country 2011-2016

TREND 6: NEW ATTITUDES TO GROWING OLD

Trend Outline
Blurring of age boundaries Postponing old age Focus on health and wellness Table 7 Healthy Life Expectancy by Country 2006/2011/2016 Internet creates level playing field Chart 14 Internet Usage 2011
Implications
Opportunities in beauty products and services The use of glamorous role models Table 8 Global Sales of Age-related Beauty Products 2006/2011/2016 Opportunities in health and wellness Table 9 Global Sales of Age-related Health and Wellness Products 2007/2012/2017 Boom in cosmetic procedures
Outlook
Age will be just a number The ongoing quest for eternal youth

TREND 7: EXPERIENCE-BASED CONSUMPTION

Trend Outline
Money can make you happy Seeking the feel-good factor Emerging market consumers find new ways to spend wealth Chart 15 Intentions Regarding Spending Habits by Country 2011
Implications
Arrivals continue to rise Chart 16 Global Arrivals 2006/2011/2016 Developing markets drive outbound tourism Japanese discover the pleasures of budget flying Experiential travel The search for more exotic destinations Chart 17 Growth in Arrivals: Top 20 Countries 2006/2011 Daily deal sites fuel demand for experiences All in the service Restaurants make customers more welcome
Outlook
Quality of life will be paramount Make way for the Chinese Table 10 Departures from China 2006/2011 Leisure outlets set for growth Chart 18 Top 10 Growth Markets for Spas 2011/2016 Chart 19 Top 10 Growth Markets for Theme Parks 2011/2016 Chart 20 Top 10 Growth Markets for Specialist Coffee Shops 2011/2016

TREND 8: THE RISE IN SOCIAL RESPONSIBILITY

Trend Outline
Consumers show more compassion Growing interest in ethical issues Chart 21 Importance of Green/Ethical Descriptors When Considering a Purchase, by Country 2011 Consumers willing to pay the price Chart 22 Willingness to Pay More for Ethical Products, by Type and by Country 2011 Companies step up CSR efforts Cause marketing gains popularity
Implications
The growth of fair-trade Table 11 Fairtrade Sales in Leading Countries 2010-2011 Consumers demand locally-sourced products Free range foods go mainstream Eco-tourism: luxury without guilt
Outlook
Consumers will seek “three-dimensional” brands Opportunities in emerging markets Animal welfare concerns drive free range growth

TREND 9: THE CHEMICAL BACKLASH

Trend Outline
Demand for all things natural Chinese consumers concerned about food safety Chart 23 Attributes that Respondents Are Willing to Pay More for, by Country 2011 Organic regulations Confusion over labels Fake claims deter consumers Chart 24 Trustworthiness of Descriptors when Used to Label Products, by Country 2011
Implications
Impact on ingredients suppliers Botanical extracts in demand Chemicals gain bad publicity Summary 3 Impact of Chemical Backlash on Ingredients Industry Impact on packaged food Growing demand for NH food and drink Table 12 Global Sales of Naturally Healthy (NH) Food and Drink 2007/2012/2017 Organic benefits from natural image Table 13 Global Sales of Organic Packaged Food 2007/2012/2017 Restaurants sources more natural ingredients Natural beauty Increased distribution Summary 4 Selected Natural Beauty and Personal Care Launches in the US 2011-2012 Big brands fight back
Outlook
Plenty of potential, but transparency needed Opportunities in the ingredients industry Monk fruit extract has the potential to rival stevia Combining nature with science Table 14 Forecast Sales of Natural Ingredients 2011/2016

TREND 10: MOBILE COCOONING

Trend Outline
Increasing reliance on digital devices Smartphones used most for emailing and internet browsing Chart 25 Mobile Phone Use by Country 2011
Implications
Rapid growth in smartphone sales The emergence of tablets Chart 26 Global Sales of Smart Devices 2006/2011/2016 Table 15 Smartphones as a % All Mobile Phones 2006/2011/2016 Smart shopping The SoLoMo revolution Apps development The challenge of monetising content A new market of mobile gamers Commercial opportunities
Outlook
Potential in emerging markets Smartphones to become accessible to all Hybrid smart devices will create new demand Table 16 World’s Leading Markets for Smart Devices by Country 2011/2016 SoLoMo will continue to evolve In-app purchase models will help monetise content Chart 27 Global Mobile App Store Downloads 2011-2016
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